In continuation of its global expansion strategy, the Arklyz Group has announced the acquisition of streetwear omnichannel retailer, Asphaltgold, effective immediately.
Led by The Athlete’s Foot owner, which it acquired in 2021, Asphaltgold will proceed to operate its online retail platform through Europe, as well as its brick and mortar stores in Germany.
The sneaker label will gain access to Arklyz's expertise and infrastructure, with the group planning to elevate the business further.
“The acquisition of Asphaltgold was a very strategic decision for us,” said CEO of the Arklyz Group, Param Singh, in a news release. “Asphaltgold's digital first approach led by story-telling through social media platforms to build community, combined with top-tier access on all relevant sneaker and streetwear brands, is highly attractive for Arklyz's future expansion plans.”
CEO of Asphaltgold, Daniel Benz, added: "We are happy to join forces with such a strategically strong partner as Arklyz and I am looking forward to jointly creating continued growth and success for Asphaltgold."
This post was updated at 11:15 am and 13:42 pm on May 10, 2022 with a new announcement from Arklyz Group correcting details of the acquisition.